IICT has been launched by Ministry of Information and Broadcasting in collaboration with FICCI and CII.
About IICT:
- It will serve as a National Centre of Excellence (NcoE) dedicated exclusively to Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector.
- Extended Reality (XR) technologies blend physical and digital worlds e.g. Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR).
- It will follow same template as IITs and IIMs in India to transform itself into a massive world-class education and training hub for students who aspire to be professionals in AVGC-XR sector.
Status of AVGC-XR sector
- Globally AVGC-XR market was valued at over $366 billion in 2021.
- India: Currently accounts for less than 1% of the global market. Indian AVGC-XR market could reach $26 billion by 2030.
- Karnataka, recognized as India's IT hub, is carving out a leadership position in the AVGC-XR sector.
Emerging key growth drivers of AVGC-XR sector in India
- Growing OTT User base: In 2024, India had an estimated 547 million OTT users, representing a penetration rate of 38.4%.
- Growth of Smartphone Users: India is set to have over 900 million internet users by 2025, with a majority from rural areas, according to the IAMAI and Kantar report.
- Wider Spectrum of Applications: Animation and VFX sector can be used in Gaming, EdTech, Architecture etc.
- Advent of New Technologies: E.g. Investment in AR and VR is increasing year on year.
- Other reasons: Increased R&D Investments, Growing 5G Presence etc.
